SME Charter :
  • To provide professional, efficient, courteous, diligent and speedy services in the matter of SME lending.
  • Credit facilities considered: Term Loan, Cash Credit, Bank Guarantee and Letter of Credit
  • Simplified and bilingual applications for Credit Facilities to SME Units are made available
  • Loan Application complete in all respect duly receipted and acknowledged.
  • Time Norms for disposal of loan applications:
    a. Upto Rs.25,000                                                  :2weeks
    b. Over Rs.25,000 and upto Rs.5.00 lakhs                :4weeks
    c. Over Rs.5.00 lakhs                                             :8 - 9 weeks
  • Collateral free loans upto Rs.5.00 lakh to SME units is mandatory.
  • Loans sanctioned without collateral security / third party guarantee upto Rs. 100.00 lakh and having good track record and financial position are covered under Credit Guarantee Fund Scheme for SME i.e. Credit Guarantee Trust Fund Scheme for Micro & Small Enterprises (CGTMSE)

For covering the advances under Credit Guarantee Funds Scheme, a Guarantee Fee @ 1.50% of credit facility sanctioned for a period of 5 years (borne by bank) and Annual Service Fee @0.75% of outstanding amount as on 31st March every year is payable (50% of the annual service fee borne by the Bank).
The Trust shall provide guarantee as under:

Category Maximum extent of Guarantee where credit facility is

 

Upto Rs.5 lakh Above Rs.5 lakh upto Rs.50 lakh Above Rs.50 lakh upto Rs.100 lakh
Micro Enterprises 85% of the amount in default subject to maximum of:
Rs.4.25 lakh
75% of the amount in default subject to maximum of:
Rs.37.50 lakh
Rs.37.50 lakh plus 50% of amount in default above Rs.50 lakh subject to overall ceiling of Rs.62.50 lakh
Women entrepreneurs/ Units located in North East Region (incl. Sikkim) 80% of the amount in default subject to maximum of:  Rs.40 lakh Rs.40 lakh plus 50% of amount in default above Rs.50 lakh subject to overall ceiling of Rs.65 lakh
All other category of borrowers 75% of the amount in default subject to maximum of: Rs.37.50 lakh Rs.37.50 lakh plus 50% of amount in default above Rs.50 lakh subject to overall ceiling of Rs.62.50 lakh
  • To reduce the Entrepreneurs dependence on Term lending Institutions, composite loan upto Rs.100.00 lakhs is sanctioned to SME Units.
  • Loan quantum: Minimum 20% of projected annual sales turnover (Nayak Committee norms)
  • Comfortable Margin option is available as under:
    Upto Rs.25,000          : NIL
    Above Rs.25,000        :25%
  • Laghu Udhyami Credit Card: Hassle free credit upto Rs.10.00 lakhs is provided through this Card.
  • Mahabank Artisan Credit Card: Credit upto Rs.2.00 lakhs - to Artisans. Considering the nature of the activity, Cash disbursement is allowed.
  • Finance is made available at most attractive rate of interest. The same are as under:

 

I] Advances to Micro & Small Enterprises having total limits (Fund + Non fund) upto Rs. 25.00 lakhs:
Category Rate of interest
a) For all new accounts Base Rate + 1.25% (at present 9.50%)
b) For existing MSME accounts which are yet to complete the first year of advance as per earlier guidelines** a) Fixed ROI as per earlier guidelines will be
applicable till expiry of the first year of  advance    b) on expiry of the first year of advance at Base
Rate + 1.25% (at present 9.50%)
c)  In respect of advances having total limits above Rs. 2.00 lakhs, credit rating will have to be done as per extant guidelines.  Henceforth, ROI will not be linked to Credit Rating for advances to Micro & small Enterprises having total limits upto Rs. 25.00 lakhs.  However, Credit rating will continue to be done for risk perception in respect of advances having total limits above Rs. 2.00 lakhs and upto Rs. 25.00 lakhs.


II] Advances to Micro, Small and Medium Enterprises having total limits (Fund + Non fund) above  Rs. 25.00 lakhs:

Rate of interest in respect of all the new MSME advances having total limits above Rs. 25.00 lakhs will be decided as per the Credit Risk Rating.  Fixed ROI for the first year as per earlier guidelines will not be applicable for new advances hereafter.

In respect of existing advances, stipulated interest rates for the first year of advance will continue as per earlier guidelines.  On completion of first year of advance, new rates will be applicable as per their Credit Risk rating as given hereunder.

The following structure of interest rates will be applicable from entry level point for all the new accounts having total limits above Rs. 25.00 lakhs and existing accounts having total limits above Rs. 25.00 lakhs, which have completed first year of advance. 

The same interest rates are applicable to all the advances availing working capital facilities and / or term loan facilities.

Click here to view the Interest Rate

 
Last update Date : 25.09.2010
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